Tag Archives: india

The BRICS bloc has expanded by bringing on six new countries, including Iran, Saudi Arabia, and Egypt. This expansion is seen as a significant victory for China and Russia, increasing China’s political clout and helping to reduce Russia’s isolation.However, Russia and China face growing economic headwinds that could undermine the …

Financial markets are now focused on the beginning of the three-day BRICS meeting in South Africa. To begin the three-day BRICS summit, leaders and senior officials from five of the largest rising economies in the world met in Johannesburg on Tuesday. Brazil, Russia, India, China, and South Africa make up …

Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …

The G7 oil price cap has been evaded by Russia’s oil exporters, resulting in an extra $1.2 billion in extra shipping costs for oil shipments to India alone. The cap targets G7-based insurers, brokers, and other service providers, allowing Western governments to cut back on Russia’s income without affecting the …

Argentina has made a $2.7 billion payment on its debt to the International Monetary Fund in June, with $1 billion coming from its stockpile of Chinese yuan and the rest consisting of IMF special-drawing rights. This unprecedented step underscores the dire situation of the Argentine economy and the increasing relevance …

In May 2023, India recorded its highest oil import from Russia with 1.96 million barrels per day, a 15% increase from the previous peak in April. Indian imports of Russian oil surpassed the total purchases from Saudi Arabia, Iraq, UAE, and the US combined, according to industry data. Russian crude …

Canada’s crypto adoption rose to 8%, with more than 2.6 million investors currently. In the 2022 budget, a government’s plan to launch a financial sector legislative review was announced.Quebec’s energy supplier, Hydro-Quebec, proposed cutting electricity off for blockchain operations. India also is leading crypto adoption on a global scale, but …

The US and India made progress on price cap talks, according to Wally Adeyemo, the US Deputy Treasury Secretary. India has emerged as one of Russia’s largest oil customers as it snaps up discounted barrels. The comments come after Indian officials have privately expressed reluctance about joining the price cap, …

At $1,807.17, gold price is slightly retreating in the midday US session as markets are on holiday. Bond markets are closed on the occasion of the US Independence Day, but the US dollar has seen two-way price action which has both supported and sunk gold at the start of the …

While the United States did not lose the trade war, it has not won it either. China’s economy has more keenly felt the brunt of increased tariffs, but if the goal was to force China to change its unfair trade practices, that effort has fallen flat.The United States has long …